Economy

Today, the Finance Minister of Georgia Ivane Machavariani and the Regional Director of the European Bank for Reconstruction and Development (EBRD) in the Caucasus, Moldova and Belarus, Bruno Balvanera signed a loan agreement on “Tbilisi Solid Waste Project”. The document envisages allocation of 15 million euros for the purpose of …

Transportation of oil and oil products through Georgian corridor has fallen to minimum. Paata Tsagareishvili, founder of Transport Corridor Research Centre and the HUB Georgia expert told BM.GE that all three seaports of Georgia (Batumi, Poti, Kulevi) handled 31% less oil and oil products in January-October, as compared to the …

Government of Georgia plans to privatize Post of Georgia and Georgian Railway, Minister of Economy Giorgi Kobulia told the Bloomberg. Government also plans to privatize State Electrosystem, the process suspended in 2011 amid the market challenges, he added. “We should increase efficiency of these companies to privatize them”, Kobulia said. …

What the capital market is and why it matters for the state economy. The capital market, that is, the securities market industry, as well as banking sector, is an integral part of the financial market. It enables physical and legal bodies to seek desirable capital, on the one hand, and …

In line with the electricity market liberalization process, Government of Georgia has developed a package of new legislative amendments, Revaz Arveladze, member of the parliament’s majority told BM.GE. According to the bill, starting January 1, 2019, about 70-100 companies will buy electricity without distributors. The present tariff does not enable …

As part of the joint project of Partnership Fund and Qarva Kolkhuri company, the maize oil and combined forage production will start in Georgia for the first time. Qarva, the Georgian maize oil will appear on Georgian market in 2019. The project’s investment value is 3 million USD. According to the …

The budget of the capital city of 2019, ecological, healthcare and social direction expenses have increased significantly, – Tbilisi Mayor Kakha Kaladze said at today’s sitting of the municipality government. Kakha Kaladze talked about the future budget of the capital city, which was sent to Tbilisi City Assembly last week …

Innovation and Technology Agency of Ministry of Economy and Sustainable Development has announced co-financing grant program. These grants are issued for startup companies, private small enterprises with about 2-year history. According to GITA information, technology-based projects will be financed implying a growth in production of military, nuclear technologies, spirits and …

On 12-16 November, 14 Flag State inspectors from Azerbaijan, Georgia, Kazakhstan, Moldova, Turkey, Turkmenistan and Ukraine met in Lisbon for the second session of a training course organised under the EU-funded Black and Caspian Sea Regions Project (BCSEA). Following the high level of interest shown by the project’s beneficiary countries, the European …

Ministry of Economy and Sustainable Development of Georgia “Sakaeronavigatsia” served 6.8% more aircraft in the January-October period. In the airspace of Georgia in January – October 2018, 127 271 instrumental flight was performed. This figure is 8 118 and 6.8% more than the same period of 2017. The number of …

According to Geostat, the national statistics service of Georgia, in January-October 2018 the country exported 599.7 million USD products to EU market, while imports from EU amounted to 2.1 billion USD. Georgia’s negative trade balance with EU countries made up 1.6 billion USD. The major exports were recorded with Bulgaria …

Georgia should show caution to prevent anti-competition practices as a result of high concentration in distinct economic sectors (including banking and medical services), the report by International Monetary Fund (IMF) “Caucasus and Central Asia: Employment of Region’s Growth Potential” reads. According to the document, competition is of crucial importance in …